ENDEAVOUR REPORTS RECORD Q4-2020 PRELIMINARY RESULTS AND 2021 GUIDANCE
Achieved top end of production guidance l Net Debt reduction of ∼$600m in 2020 l Net Cash position of ~$70m at year-end
HIGHLIGHTS
- Record Q4-2020 production of 344koz, a 41% increase over Q3-2020 while AISC decreased by 15% to ~$770/oz
- Record consolidated FY-2020 production of 908koz, a 39% increase over FY-2019, while AISC increased by 5% to ~$860/oz
- Eighth consecutive year of achieving annual guidance, reaching the top end of production and low end of AISC guidance, in spite of the global COVID-19 pandemic
- Net Cash position of ~$70m achieved at year-end, marking a Net Debt reduction of ~$245m during Q4-2020 and ~$600m during FY-2020
- First dividend announced, payment on February 5, 2021, with shareholder return program expected to be augmented once a Net Cash position of $250m is reached
- 2021 annual production guidance of 915-1,010koz at AISC of $900-950/oz, which factors in the recently announced Agbaou sale and will be updated following the completion of the Teranga transaction
- Strong focus in 2021 on free cash flow generation and on building optionality by progressing our organic growth pipeline with PFS on Fetekro and Kalana due in Q1-2021 and targeting DFS for the Sabodala-Massawa plant expansion in Q4-2021
- Continued strong focus on exploration with 2021 exploration budget of $55-60m
[...]
saludos
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